The jig is built once, the welds happen on every panel
On a run of railing, a big part of the money goes in before the first bead. In the example, 8 hours go to the site measure, the drawing and cut list, building the jig, the steel run and the drives to the coater. At $63 that is $504, and it is the same whether you build 2 panels or 20.
Then each panel takes 123 shop minutes from cutting pickets to the last flap disc. That is the number to get right, because it repeats. Time one panel next time you build a run, start to finish, and use that instead of a guess.
One panel at $1,585, sixteen at $440: reading the break table
The table under the price shows the same railing at 1, 4, 8 and 16 panels. One panel comes to $1,585.02 because it pays for the whole measure and jig alone. Four come to $668.82 each, eight to $516.12 and sixteen to $439.77.
Use that table when a contractor asks for "a price per panel" before the count is settled. Quote the panel price for the count on the drawing, and say in writing that a smaller order changes it. The change orders guide covers how to handle the count dropping after you have cut the steel.
Black powder, primer or raw steel
The coater is the biggest single line after steel. In the example, powder for the run is $379, about $47 a panel. Set that line to 0 for raw steel and the panel comes to $459.27.
Coated work also changes the shop minutes. Welds that will be powder coated need more grinding than welds that get painted on site, so if you raise the minutes per panel from 123 to 150 to match a fussier finish, the panel moves to $550.14. Both numbers are worth knowing before the customer picks a finish.
The markup on steel is set to 10% here. If you want to see how a small markup on steel and a bigger profit line relate, the markup vs margin guide works through it.
What the full fab spreadsheet counts that this page skips
This page leaves out the equipment cost per hour on the saw and the welder, the markup on outside work, a safety cushion and the full list of fab costs owners forget, from touch-up after install to hardware not in the cut list. The spreadsheet counts all of it, which is why its version of the same railing comes to $549.41 a panel, not $516.12.
The $63 rate is the example shop's. Yours depends on rent, insurance, gas cylinders, the truck and how many hours you really bill: run it through the free true hourly rate calculator, then read the welding pricing guide for how owners price gates, repairs and mobile work.